WABCO (NYSE:WBC) was upgraded by investment analysts at Vertical Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, MarketBeat.com reports. The firm currently has a $141.98 price objective on the auto parts company’s stock. Vertical Research’s price target points to a potential upside of 3.24% from the company’s previous close.
WBC has been the subject of several other reports. JPMorgan Chase & Co. lowered WABCO from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $115.00 to $98.00 in a research note on Thursday, January 10th. Stifel Nicolaus set a $135.00 price objective on WABCO and gave the stock a “buy” rating in a research note on Monday, December 10th. Robert W. Baird raised WABCO from a “neutral” rating to an “outperform” rating and set a $150.00 price objective for the company in a research note on Thursday, February 7th. ValuEngine lowered WABCO from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. Finally, Mizuho set a $125.00 price objective on WABCO and gave the stock a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $135.13.
WBC opened at $137.53 on Wednesday. The firm has a market cap of $6.12 billion, a PE ratio of 17.48, a P/E/G ratio of 1.01 and a beta of 1.63. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.01 and a quick ratio of 1.89. WABCO has a fifty-two week low of $98.90 and a fifty-two week high of $143.19.
WABCO (NYSE:WBC) last released its quarterly earnings data on Friday, February 15th. The auto parts company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.14. The business had revenue of $911.60 million during the quarter, compared to analyst estimates of $963.33 million. WABCO had a return on equity of 32.91% and a net margin of 10.29%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company posted $2.00 EPS. Equities research analysts forecast that WABCO will post 7.82 earnings per share for the current fiscal year.
WABCO announced that its board has initiated a share buyback plan on Monday, December 10th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the auto parts company to buy up to 10.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, insider Nicolas Bardot sold 1,145 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $120.93, for a total value of $138,464.85. Following the completion of the sale, the insider now owns 4,546 shares in the company, valued at $549,747.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of WABCO by 43.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 377,784 shares of the auto parts company’s stock valued at $40,550,000 after purchasing an additional 114,651 shares in the last quarter. FMR LLC lifted its holdings in shares of WABCO by 12.6% in the fourth quarter. FMR LLC now owns 3,874,508 shares of the auto parts company’s stock valued at $415,890,000 after purchasing an additional 434,629 shares in the last quarter. Aurora Investment Counsel lifted its holdings in shares of WABCO by 6.8% in the fourth quarter. Aurora Investment Counsel now owns 14,553 shares of the auto parts company’s stock valued at $1,562,000 after purchasing an additional 930 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of WABCO by 61.6% in the fourth quarter. Amalgamated Bank now owns 11,766 shares of the auto parts company’s stock valued at $1,263,000 after purchasing an additional 4,486 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of WABCO by 4.3% in the fourth quarter. Millennium Management LLC now owns 45,441 shares of the auto parts company’s stock valued at $4,878,000 after purchasing an additional 1,875 shares in the last quarter. Institutional investors own 94.95% of the company’s stock.
WABCO Company Profile
WABCO Holdings Inc, together with its subsidiaries, supplies electronic, mechanical, electro-mechanical, and aerodynamic products worldwide. The company engineers, develops, manufactures, and sells braking, stability, suspension, steering, transmission automation, and air management systems primarily for commercial vehicles.
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